Industry News
The U.S. judge overseeing nationwide litigation concerning the opioid crisis on Monday rejected Purdue Pharma LP’s effort to dismiss claims that its activities caused a public nuisance. U.S. District Judge Dan Polster in Cleveland said a reasonable jury could conclude …
Via: Claims Journal
Insured losses in the Caribbean from Hurricane Dorian is estimated at $3.5 billion to $6.5 billion, according to RMS, the risk modeling and analytics firm. This estimate represents insured losses associated with wind and storm surge damage across the Caribbean …
Via: Claims Journal
As the cyber insurance market has continued its rapid growth, its loss vulnerabilities have become increasingly clear. A new report from Guy Carpenter and CyberCube Analytics has identified potential loss scenarios in the current market that run in the billions …
Via: Claims Journal
Severe, mysterious lung illnesses that have struck more than 200 people around the country may be tied to an ingredient in cannabis-containing vapor products, said the New York State Department of Health. New York and other states, as well as …
Via: Claims Journal
Tesla Inc.’s use of individual customer data, such as vehicle camera footage and GPS, to price its new insurance products will depend on drivers’ authorization and individual U.S. state laws, a senior company executive said on Wednesday. “The data is …
Via: Claims Journal
Oberlin College is seeking a new trial after being ordered to pay $25 million to the owners of a market who accused the Ohio school of ruining their business by encouraging protests and branding them racists after a shoplifting incident …
Via: Claims Journal
Medical payments in California’s workers’ compensation system continued to decline in 2018 as the medical payments per claim decreased, according to a report from the Workers’ Compensation Insurance Rating Bureau of California. The WCIRB released its California Workers’ Compensation Aggregate …
Via: Claims Journal
Some of the first financial relief the Bahamas receives in the aftermath of Hurricane Dorian may be a rapid insurance payout from a novel program just 12 years old. CCRIF, once short for the Caribbean Catastrophe Risk Insurance Facility, was …
Via: Claims Journal
The state of Iowa and a group of doctors at University Hospitals and Clinics in Iowa City will pay a Fairfield woman $2.5 million after she lost both legs to amputation and became paralyzed after what she claimed was a …
Via: Claims Journal
Hurricane Dorian inflicted an estimated $7 billion in total insured and uninsured losses on the Bahamas, according to catastrophe risk modeling firm Karen Clark & Company (KCC). This includes building, contents, and business interruption exposures for commercial, residential and industrial …
Via: Claims Journal